Mobile payments: Catch up or be left out

Application icons for Ant Financial Services Group's Alipay, an affiliate of Alibaba Group Holding Ltd., left, China UnionPay Co., center, and Apple Inc. Wallet are displayed for a photograph on an Apple iPhone in Hong Kong, China, on Tuesday, Nov. 1, 2016. The urgency to prepare regulatory environments for fintech is growing as banks begin offering digital services such as biometric authentication and as mobile-payment systems such as Apple Pay and AliPay are introduced around the region. Photographer: Anthony Kwan/Bloomberg

Hong Kong's mobile-payment services market is poised to balloon as residents become increasingly familiar with the new form of payment technology. 

A survey shows that the proliferation of mobile-payment services in the SAR has resulted in the rapid growth of the number of people using them. High growth is expected for the city's mobile-payment market in the coming years.